FEEL FOODS GETS ‘VITAL’ GO AHEAD FOR U.S. EXPANSION

Rhea-AI Summary

Feel Foods Ltd. (OTC: FLLLF) has received a 'Safe Food for Canadians' license from the Canadian Food Inspection Agency, enabling the sale and export of its plant-based products across Canada and to the U.S. This license supports the company's goal of establishing a Canada-wide distribution network, already in collaboration with Tony Waters Agencies for sales representation. Feel Foods also prepares to launch an e-commerce platform, enhancing accessibility. The plant-based market is projected to grow at a CAGR of 11.9%, reaching $74.2 billion by 2027, presenting significant opportunities for the company.

Positive

• Granted a 'Safe Food for Canadians' license facilitating sales across Canada and U.S.
• Partnership with Tony Waters Agencies to bolster distribution in major Canadian retailers.
• Preparation for e-commerce launch to enhance direct-to-consumer sales.

Negative

• None.

VANCOUVER, BRITISH COLUMBIA, Dec. 07, 2021 (GLOBE NEWSWIRE) -- FEEL FOODS LTD. ("Feel Foods") (CSE: “FEEL”) (OTC: “FLLLF”) (FSE: “1ZF”) has just been granted a ‘Safe Food for Canadians’ license from the Canadian Food Inspection Agency (the “CFIA”), allowing Feel Foods to sell its plant-based food products throughout Canada and export to other countries, including the United States.

Feel Foods will further benefit by utilizing its distribution network and National Brokerage agreements as announced on October 19^th, 2021 with Tony Waters Agencies Inc. (“TWA”).

TWA will provide sales representation to the Canadian natural foods market with full-service sales, administration and marketing support. TWA has over 30 years of experience in the Canadian natural and organic marketplace and will work with Feel Foods to expand sales on a national level and represent the company to large mass market accounts such as: Costco, Sobeys, Save-On-Foods, Metro, Loblaws, Thrifty Foods, Federation Co-op and many other large chain retailers.

Feel Foods CEO, David Greenway, stated: “This license is a vital step as we systematically build a strong Canada-wide distribution network with a presence at over 70 grocery, restaurants and marketplaces in BC, marketing beginning in Alberta and now Feel Foods has the way cleared for U.S. product roll outs and sales.”

“Feel Foods has also received its updated packaging design and e-commerce cold shipping containers as we prepare for the launch of our e-commerce platform for direct-to-consumer sales.”

The Canadian Food Inspection Agency (CFIA) is a highly-regarded global leader in regulating food, animal and plant health and safety. The Safe Food for Canadian Regulations (SFCR) are designed to improve food product quality and safety.

To be licensed, companies must have a rigorous food safety program based on Hazard Analysis and Critical Control Point (HACCP) principles. The SFCR gives CFIA the authority to certify all foods for export, as is increasingly required by more foreign countries, streamlining the system and making export easier for Canadian manufacturers.

The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027.* The growth of this market is mainly attributed to the factors such as increasing incidence of intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan population, and significant venture investments in this sector.*

About Black Sheep Vegan Cheeze

Feel Foods wholly owned premium vegan cheese brand “Black Sheep Vegan Cheeze” (“Black Sheep”) was founded in 2017 and is currently producing variety of unique vegan dairy substitute products at the company’s Okanagan commercial kitchen and R&D facility. Black Sheep products are currently offered in grocery stores and food services locations throughout British Columbia including select locations at: IGA, Nesters, The Very Good Butchers, Pomme Natural, Natures Fare, Vegan Supply, and many other fine retailers across 16 cities throughout the province as well as online and in person at farmers markets.

For more information on Black Sheep’s products and story, visit: http://blacksheepvegancheeze.com/

About Feel Foods Ltd.

FEEL is an agri-food holdings company focused on innovative products and technologies in the food services industry including its wholly owned Black Sheep Vegan Cheeze Company, offering a variety of 10 unique vegan dairy substitute products and currently available in over 30 retail locations, it’s 100% owned Be Good Plant-based Foods line of plant-based chicken, pork and beef products as well as is currently investing in the research and development of keto-friendly plant-based candy products.

Company Contact:
Mr. Joel T Warawa
Corporate Communications
E-mail: jw@feelfoodsco.com

Corporate Contact:
Website: www.feelfoodsco.com
E-Mail: info@feelfoodsco.com
Instagram: Instagram.com/feelfoodsco
Phone: 604-235-0010

Statistics Reference: * https://www.prnewswire.com/news-releases/global-plant-based-food-market-report-2020-2027-rising-industry-concentration-with-growth-in-mergers-and-acquisitions-in-the-plant-based-products-space-301268737.html

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future, including with respect to: the entry of the Consulting Agreements, the completion of the Acquisition and the acceptance of the Acquisition and terms thereof by the CSE. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic, the inability of Feel Foods to close the Acquisition and other risks that are customary to transactions of this nature. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Feel Foods undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

FAQ

What does the 'Safe Food for Canadians' license mean for Feel Foods (FLLLF)?

The license allows Feel Foods to sell its plant-based products throughout Canada and export to countries like the U.S., increasing market access.

How will Tony Waters Agencies help Feel Foods (FLLLF)?

Tony Waters Agencies will provide sales representation and marketing support to expand Feel Foods' presence in the Canadian natural foods market.

What is the projected growth for the plant-based food market related to Feel Foods (FLLLF)?

The plant-based food market is expected to grow at a CAGR of 11.9%, reaching $74.2 billion by 2027, presenting significant growth opportunities for Feel Foods.

When is Feel Foods (FLLLF) launching its e-commerce platform?

Feel Foods is preparing for the launch of its e-commerce platform for direct-to-consumer sales, although specific dates were not provided in the press release.